POTSDAM – The village planning board meets on Thursday evening to review the application from Affinity Potsdam Cottages for a subdivision at 206-208 Main St. The preliminary review is going ahead …
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POTSDAM – The village planning board meets on Thursday evening to review the application from Affinity Potsdam Cottages for a subdivision at 206-208 Main St.
The preliminary review is going ahead in spite of opposition from the Potsdam Town Council and a “wait-and-see” response from the Potsdam Central School Board of Education toward Affinity’s application for a significant tax abatement for their 300-bed housing plan across from SUNY Potsdam’s athletic fields on Main Street.
Chason Affinity Partners of Buffalo have indicated that a break on taxes is vital if the project is to go ahead.
The tax abatement plan, being referred to as a “payment in lieu of taxes,” or PILOT, would freeze assessment of the estimated $15 million to $18 million project at about $5.5 million for 11 years. The company would then be paying only a fraction of taxes due at the lower assessed rate. Payments would increase gradually over the 11 year term.
But the town board, in a tie vote, did not approve of the plan, and the school board has tabled their discussion of it. The village board has approved the tax break plan. All three taxing authorities must approve the break for it to go into effect.
A public hearing on the plan July 5 drew considerable opposition to the plan, primarily from landlords and others who feel that, since they do not get any tax breaks for improvements to their property, a private company from outside the area should not get any.
Those who spoke in favor pointed out that the breaks are not permanent, and that getting a project of this size on the tax rolls will be good for the village in the long term.
The planning board meeting is set for 7 p.m. Thursday in the Civic Center board room.